Raymond James & Associates Has $2.20 Million Stake in New Jersey Resources Co. (NYSE:NJR)

Raymond James & Associates boosted its position in New Jersey Resources Co. (NYSE:NJR) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,232 shares of the utilities provider’s stock after buying an additional 4,010 shares during the period. Raymond James & Associates’ holdings in New Jersey Resources were worth $2,195,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in New Jersey Resources in the fourth quarter valued at $26,000. Quarry LP acquired a new position in shares of New Jersey Resources during the second quarter valued at about $38,000. Fifth Third Bancorp raised its holdings in shares of New Jersey Resources by 68.0% during the third quarter. Fifth Third Bancorp now owns 1,018 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 412 shares during the period. Farmers & Merchants Investments Inc. raised its holdings in shares of New Jersey Resources by 2,500.0% during the third quarter. Farmers & Merchants Investments Inc. now owns 1,040 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 1,000 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of New Jersey Resources by 71.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 914 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 380 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

New Jersey Resources Trading Down 0.7 %

NJR opened at $41.28 on Wednesday. New Jersey Resources Co. has a fifty-two week low of $38.92 and a fifty-two week high of $54.00. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.70 and a quick ratio of 0.47. The company’s 50-day moving average is $42.04 and its 200 day moving average is $42.44. The firm has a market capitalization of $4.06 billion, a PE ratio of 16.92 and a beta of 0.64.

New Jersey Resources (NYSE:NJR) last issued its quarterly earnings data on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). New Jersey Resources had a return on equity of 11.13% and a net margin of 13.96%. The firm had revenue of $467.20 million during the quarter, compared to the consensus estimate of $812.66 million. During the same period in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was down 35.4% on a year-over-year basis. As a group, research analysts predict that New Jersey Resources Co. will post 2.94 earnings per share for the current fiscal year.

New Jersey Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Wednesday, March 13th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend was Tuesday, March 12th. New Jersey Resources’s payout ratio is 68.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NJR shares. StockNews.com upgraded shares of New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Mizuho lowered their target price on shares of New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, February 5th.

About New Jersey Resources

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.